International Monetary Fund (IMF)
International Monetary Fund (IMF)

The Ghanaian government late Tuesday said it would continue with its program with the International Monetary Fund (IMF), contrary to media reports that it is pulling out of the program.

In response to a question during an encounter with the media to mark his six months in office earlier Tuesday, president Nana Addo Dankwa Akufo-Addo said the IMF program is coming to an end next year with next year’s budget to be laid before parliament later this year.

However, a statement signed by the finance Minister Ken Ofori-Atta clarified that Ghana will complete the IMF program through its budget cycle of January 2018 through December 2018 as stated by the president.

“The 2018 budget will therefore be the last budget under the IMF program,” the statement said adding that after the completion of the program at the end of the budget cycle in December 2018, the government will not extend it.

The president’s remarks should therefore not be interpreted to mean that the government will be pulling out of the IMF program, Ofori-Atta said.

Ghana signed a 918 million U.S. dollars extended credit facility program with the IMF in 2015 which is aimed at restoring debt sustainability, macroeconomic stability and spurring on high economic growth and job creation. Enditem

Source: Xinhua/